Suppose it is known that in the city of Golden the weather is either "good" or "bad". If the weather is good on any given day, there is a 2/3 chance it will be good the next day. If the weather is bad...

Extracted text: Suppose it is known that in the city of Golden the weather is either "good" or "bad". If the weather is good on any given day, there is a 2/3 chance it will be good the next day. If the weather is bad on any given day, there is a 1/2 chance it will be bad the next day. a) Find the stochastic matrix P for this Markov chain. b) Given that on Saturday there is a 100% chance of good weather in Golden, use the stochastic matrix from part (a) to find the probability that the weather on Monday will be good. The initial state xo = c) Over the long run, what is the probability that the weather in Golden is good?